Lisbon, Portugal – Leaders from the nations of the European Union signed the landmark Treaty of Lisbon which is to redefine foreign policy for the EU and creates an EU president. The treaty is a replacement for the Treaty establishing a Constitution for Europe which was abandoned after suffering defeats in referendums in France and the Netherlands. It is intended that the treaty would come into force on January 1, 2009 in time for the 2009 European elections later that year. If there is a delay in ratification pushing it beyond that date, it will come into force on the first day of the month following the last ratification. Continue »

Budapest, December 14 (MTI) – Fully 75 percent of Hungary’s
residents have no savings at all, 11 percent have bank deposits, 10
percent life insurance policies, and 2 percent have stocks or mutual
funds, said Akos Kozak, director of economic research firm GfK
Hungaria on Friday, citing a survey conducted for the Wall Street
Journal Europe. Continue »

Asienu, Cyprus, December 14 (MTI) – Hungary’s Deputy Defence
Minister Agnes Vadai visited Hungarian peace keeping troops on
Cyprus on Friday. Vadai met with the Hungarian forces serving in the security zone
separating the Greek and Turkish parts of the island, and visited
their camp in Asienu. Hungary has an 84-strong mission on Cyprus, providing a 24-hour
patrol service. Continue »

Brussels, December 14 (MTI) – Prime Ministers of the Visegrad
Four countries (Hungary, Slovakia, the Czech Republic and Poland)
and the Baltic nations (Estonia, Latvia, and Lithuania) held their
first meeting of this kind in Brussels on Friday, addressing future
co-operation, government spokesman David Daroczi told MTI. Continue »

Budapest, December 14 (MTI) – Finance Minister Janos Veres
signed a 400 million euro credit agreement with the European
Investment Bank (EIB) in Budapest on Friday, to use in education,
the transportation and environmental infrastructure, and in energy. Veres noted that EIB had financed 113 projects in Hungary with
8.4 billion euros since 1990, and the new accord would help Hungary
meet its co-payments needed to receive European Union grants. Regarding a new Budapest metro line where funding difficulties
have arisen, Veres said that as soon as Hungary and the EU finalize
their agreement, EIB will be ready to amend the already-agreed-on
loan accord. Continue »

Budapest, December 14 (MTI) – Market analysts queried by wire
service Reuters said on Friday they expected the Hungarian central
bank’s rate-setting Monetary Council to leave the key interest rate
as is at its Monday meeting, though 15 of the 25 specialists asked
said they expected a central bank rate cut in the first quarter of
2008, albeit not in January. Continue »

Paris – Russia beat Hungary last night by one goal, putting an end to the Hungarian quest for gold. Andras Nemeth’s team was ahead by six in the first half, and by three with eight minutes to go, but failed to keep their lead both times. Continue »

Budapest, December 14 (MTI) – Hungary’s public deficit will come
within the latest projection of 6.2 percent of gross domestic
product this year, Finance Minister Janos Veres told foreign
journalists on Friday. Continue »

Budapest, December 14 (MTI) – Hungary got its first taste of
winter on Friday morning, with 5-6 centimetres of snow in western
Veszprem County triggering a series of road accidents that blocked
traffic for kilometres, local authorities reported. Continue »

Budapest, December 14 (MTI) – The trade union strike called for
December 17 is not likely to be powerful enough to upset the
government’s health insurance reform plans, political analysts
polled by MTI on Friday said. Continue »